Rarus Technologies to Acquire Zngle.com (RARS)
May 9,2012 11:52:28 AM PDT
Rarus Technologies Inc. (PINK: RARS),an emerging technology company seeking to establish an innovative business model intended to bridge cutting-edge social media and e-commerce into a marketplace, today, announced that it signed an agreement to acquire Zngle.com.
RARS entered into an Exclusive Software Property, Technical Information and Trademark License Agreement with ThinkCorp AG for the acquisition of Zngle.com.
Zngle.com is a next-generation software platform that has been designed to take social media to new heights. The platform enables users to connect and communicate with friends, family and business networks. Manfred Ruf, CEO of Rarus, said that the acquisition of the revolutionary Zngle.com technologies marks RARS’ entry into the incredibly popular and rapidly growing social media space.
Ruf believes that Zngle.com will set itself apart from other established social media platforms by incorporating traditional video, voice, and text messaging elements with cutting edge augmented proximity reality and mobile technologies to create a uniquely valuable experience for both individuals and business users.
As per the terms of the agreement, Rarus will acquire the global exclusive license for all software, technical information, and trademarks required to commercialize the Zngle.com business for license fee of $22 million. RARS will pay the license fee over a period of five years. The agreement also requires RARS to pay a 5% royalty on net sales derived from e-commerce transactions, advertising, and other uses of the licensed technologies.
The announcement has sent Rarus Technologies shares sharply higher in trading today. At last check, the stock was trading 56.84% higher at $0.447 on above average volume of 18.98 million.
